That new biotech compound Arie Belldegrun & Co. have been building in Seaport? It turns out one fast-growing developer took the whole thing
When Kite founder Arie Belldegrun laid out his vision for the new biotech building he and son Dan were building with Tishman Speyer in Seaport, he had an idea for a club-like environment that would bring together scientists and entrepreneurs interested in building drugs and companies.
But then the market took control.
Instead of multiple tenants, Breakthrough Properties got one growing biotech to take all 263,500 square feet of space at The 105.
Once completed in early 2022, the gene editing experts at CRISPR Therapeutics will be moving in to what will now be a custom-built R&D center. CRISPR is a thoroughly global kind of biotech, with its R&D operations in Boston, a corporate headquarters in tax-light Zug, Switzerland and business execs in both London and San Francisco.
The big lease deal — along with the news yesterday that Bristol Myers Squibb is taking a big chunk of the Cambridge Crossing development on the line between Cambridge and Somerville, following Sanofi — helps underscore how the fast-growing biotech industry has been busting at the seams when it comes to office space in key hubs. And it’s a clear signal that the development specialists in the field will have some new creations to show off in the not-too-distant future.
The Payette architecture firm did the design work on the building, featuring a fitness facility and outdoor terraces, which is going up alongside the Red Line in the Boston development zone.